
Due to the continuous increase in the prices of petrol and diesel, the government is under great pressure to cut their prices. To get relief from their increased prices, there is a demand to bring them under the purview of GST. Recently, the Prime Minister and then the Chief Economic Advisor Krishnamurthy Subramaniam also advised to bring it under the purview of GST. Before this, Petroleum Minister Dharmendra Pradhan has also suggested this. However, Finance Minister Nirmala Sitharaman has described it as religious. Now SBI economist Soumikanti Ghosh has said that after being brought under the ambit of GST, the price of petrol and diesel can come to Rs. 68.
Petrol and diesel fall in GST, 0.4% loss to GDP
Saumyakanti Ghosh has said in his assessment that petrol and diesel and the state governments will only incur a revenue loss of one lakh crore rupees which will be 0.4 percent of GDP. This assessment has been done based on the price of crude oil in the international market at $ 60 per barrel and a dollar-rupee exchange rate of 73 rupees per dollar. Both the central and state governments impose their tax on petrol and diesel. States apply VAT on petrol and diesel as per their requirement. The center imposes excise duty. With this, the center's cess is put on it. In some parts of the country, the price of petrol has reached 100 rupees a liter.
Saudi Arabia turned down India's request
Meanwhile, OPEC has ignored India's plea to lift applicable controls on crude oil production. At the same time, there has been an increase in the price of crude oil in the international market. Saudi Arabia has told India that it can use the crude oil it bought at the time when the price of crude oil went down significantly last year. Brent crude oil, which is the most used crude oil, rose nearly one percent to $ 67.44 a barrel on Friday.
Petroleum Minister Dharmendra Pradhan appealed to OPEC countries to reduce the restrictions imposed on production to bring stability in the price of crude oil. He believed that due to the rising crude oil prices in the international market, both the improvement in the economic sector and the demand are having a bad effect.
Elon Musk completed the Twitter acquisition deal on Thursday. As soon as he got ownership of the
RJD Training Camp: Lalu Yadav said, agitate - fill the jail, do not be afraid of trial, Satyagraha is necessary against injustice
RJD supremo Lalu Yadav on Tuesday told workers and party leaders that satyagraha against injustice i
Actor Ranbir Kapoor's 39th birthday is on 28 September (Tuesday). Two days before his birthday, R
There is good news for those who dream of settling in Canada. Canada has raised the level of perm
Indian Space Research Organization Chairman S Somanath attended the 18th convocation of SRM Insti
The Supreme Court has given conditional permission to YouTuber Ranveer Allahabadia, accused of ma
Shahid Kapoor and Tripti Dimri's film "O Romeo" has been trending on social media since its relea
Farhan Akhtar and Shibani Dandekar Wedding Date and Venue: Bollywood actor, writer, and director
After allegations of corruption in Delhi's new liquor policy, Deputy Chief Minister Manish Sisodi
Army Chief General Upendra Dwivedi recently praised a soldier, knowing the reason behind which yo